Amalgamated Bank lowered its position in shares of Ferro Corporation (NYSE:FOE) by 0.1% during the first quarter, according to its most recent filing with the SEC. The firm owned 10,203 shares of the specialty chemicals company’s stock after selling 9 shares during the period. Amalgamated Bank’s holdings in Ferro Corporation were worth $155,000 at the end of the most recent quarter.
Other large investors have also modified their holdings of the company. Ameritas Investment Partners Inc. purchased a new position in Ferro Corporation during the first quarter worth approximately $109,000. Envestnet Asset Management Inc. raised its position in Ferro Corporation by 347.1% in the fourth quarter. Envestnet Asset Management Inc. now owns 12,085 shares of the specialty chemicals company’s stock worth $173,000 after buying an additional 9,382 shares during the period. KCG Holdings Inc. purchased a new position in Ferro Corporation during the first quarter worth approximately $181,000. Teza Capital Management LLC purchased a new position in Ferro Corporation during the first quarter worth approximately $182,000. Finally, Nine Chapters Capital Management LLC purchased a new position in Ferro Corporation during the first quarter worth approximately $204,000. 96.17% of the stock is currently owned by institutional investors and hedge funds.
Ferro Corporation (NYSE:FOE) opened at 19.03 on Friday. Ferro Corporation has a 12 month low of $12.35 and a 12 month high of $20.34. The company has a 50-day moving average of $18.41 and a 200 day moving average of $16.18. The stock has a market capitalization of $1.59 billion, a price-to-earnings ratio of 146.38 and a beta of 2.00.
Ferro Corporation (NYSE:FOE) last released its quarterly earnings data on Wednesday, July 26th. The specialty chemicals company reported $0.37 EPS for the quarter, beating the consensus estimate of $0.33 by $0.04. The business had revenue of $348.60 million for the quarter, compared to the consensus estimate of $336.14 million. Ferro Corporation had a net margin of 1.06% and a return on equity of 35.05%. The business’s revenue for the quarter was up 17.0% on a year-over-year basis. During the same period in the prior year, the firm earned $0.34 EPS. On average, equities research analysts anticipate that Ferro Corporation will post $1.22 earnings per share for the current fiscal year.
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A number of research analysts have recently commented on FOE shares. Zacks Investment Research upgraded shares of Ferro Corporation from a “hold” rating to a “buy” rating and set a $20.00 price target for the company in a research report on Tuesday, May 9th. Deutsche Bank AG boosted their price target on shares of Ferro Corporation from $17.00 to $20.00 and gave the company a “buy” rating in a research report on Friday, April 28th. Longbow Research upgraded shares of Ferro Corporation from a “neutral” rating to a “buy” rating and set a $22.00 price target for the company in a research report on Monday, June 5th. BidaskClub lowered shares of Ferro Corporation from a “buy” rating to a “hold” rating in a research report on Monday, July 24th. Finally, TheStreet upgraded shares of Ferro Corporation from a “c” rating to a “b” rating in a research report on Thursday, April 27th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the company’s stock. Ferro Corporation presently has a consensus rating of “Buy” and an average price target of $19.80.
About Ferro Corporation
Ferro Corporation (Ferro) produces specialty materials that are sold to a range of manufacturers. The Company’s segments include Performance Coatings; Performance Colors and Glass, and Pigments, Powders and Oxides. Its Performance Coatings segment includes Tile Coating Systems and Porcelain Enamel. Its manufacturers make products for various end-use markets.
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